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Predatory payday loans and why you should avoid them
Rounding it up
Payday loans are a ridiculously expensive way to borrow money; they suck people into a cycle of debt, where they continuously borrow more money to pay off the previous debt.
Payday lenders have a predatory reputation for a reason and you should do everything you can to avoid them, like cashing in on your vacation days or opening a line of credit.
If you’ve exhausted alternative options, seek advice from reputable professionals like an accredited credit counsellor.
There’s never a bad time to start building up your slush fund; start saving early so you can prepare for emergencies and avoid payday lenders.
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